Benchmark Initiates Veeco Instruments At Buy

Benchmark initiated coverage on Veeco Instruments Inc. VECO with a Buy rating. The target price for Veeco Instruments is set to $38. Veeco Instruments shares have dropped 6.39 percent over the past 52 weeks, while the S&P 500 index has surged 10.96 percent in the same period. Veeco Instruments' shares rose 0.39 percent to close at $30.61 yesterday.